Socio-Economics & History Commentary

Daniel Estulin: G-20 Meeting in Scotland this Week about Dumping U.S. Dollar !

The G20 hardly meets at all. It is the G7 or G8 that has more regular meetings. So, it is rather unusual that the G20 has been meeting almost quarterly. I suppose you could assume that these important government officials just want to meet to exchange golf tips. I don’t think so! Something much bigger is on the agenda. It definitely has to do with the USD.

How will the world extricate itself from the collapse of the world reserve currency? How will trade be conducted and upon what basis will forex rates be determined? In the past, countries simply hold USD as their reserves. Because all countries need to buy oil which is priced and sold in USD. The USD is the currency for international trade settlement. As much as 75% of world trade is quoted and settled in USD. When the USD dies, international trade becomes problematic. Countries need to keep many different currencies to settle their international trade. And which country would like to keep currencies like: Indonesian Rupiah, Kenyan dollar, Zimbabwe dollar …..etc? Gold is the obvious beneficiary!

The current geo-political situation pits Russia/China/Iran…. axis against the Anglo-American-Israeli… axis. One false move, can cause a middle east war to escalate into WW3. How do you handle a terrifying war machine like America? The least painful way for the Russians and Chinese is probably to take down the USD! Americans must wake up and realize that the Satanic cabal has taken over the country. And it doesn’t give a hoot how much Americans will suffer. Daniel Estulin writes :

Best-selling author Daniel Estulin states that the key issue to be discussed this week at the G20 Finance Ministers and Central Bank Governors Meeting, being held in St. Andrews, Scotland, is how to bring down the present world financial system through dumping the US dollar. Estulin first reported on this initiative as being deliberated at the most recent Bilderberg meeting held in Greece in May 2009. Estulin says that the success or failure of this callous plan hinges on the ability of the US and UK representatives to convince the Russian, the Chinese and other national governments to go along with their scheme.

Estulin maintains that if the co-conspirators succeed, such sudden devaluation of the US dollar would result in the sinking of the world economy through a chain-reaction collapse of the entire world’s financial system. As discussed during the Bilderberg Group’s super-secret conclave back in May, this breakdown would then be used as an excuse to launch a new world monetary system. G20 leaders are aware that those who run the monetary markets, the monetary system, control the world. That is why today, the world is run through a dominant one-currency monetary system and not by national credit systems.

A severe breakdown crisis would affect every corner of the world and be a prelude to instability, wars and general hostility along financial, geographical and geopolitical lines, affecting not only particular countries but also societies, cultures and whole continents. Such a breakdown could result in a consolidation of the world’s monetary system.

Estulin declares that the creation of the new world currency is the true meaning of globalization, which is nothing but an empire. It is the elimination of the nation-state, the degradation of individual national liberties and the depredation of civil rights.

Collapsing the US dollar, first of all, is an assault on the structure of the United States economy toward the creation of a “World Company.” This concept, Estulin states, was initially discussed at the April 1968 Bilderberg Group meeting, held in Canada at Mont Trembland, by George Ball, a senior Lehman Brothers banker and former undersecretary for economic affairs for Presidents John Kennedy and Lyndon Johnson.

The aim of this World Company, as explained by Ball was “to eliminate the archaic political structure of nation-state” in favor of the more “modern” corporate structure. Ball also called for further political integration in Europe, and then the rest of the world, as a precondition for expanding the power of a World Company, thus putting the financiers on the same levels as governments.

This initiative, the moving away from the US dollar as a world currency, is the true intention of the G20 meeting November 6-7 at St. Andrews in Scotland, the site of the 1998 Bilderberg conference, Estulin asserts.